For the Pair of Supply-And-Demand Equations, Where X Represents the Quantity

question 64

Multiple Choice

For the pair of supply-and-demand equations, where x represents the quantity demanded in units of 1,000 and p is the unit price in dollars, find the equilibrium quantity and the equilibrium price. 2x + 9p - 93 = 0 and 3x - 14p + 108 = 0

• A) equilibrium quantity 6,000 units; equilibrium price $13
• B) equilibrium quantity 12,000 units; equilibrium price $9
• C) equilibrium quantity 6,000 units; equilibrium price $9
• D) equilibrium quantity 12,000 units; equilibrium price $13

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